Hong Kong-listed company Xinhuo Technology raised more than HK$270 million through a rights issue to five subscribers

PANews reported on June 30 that according to Yahoo Finance, Hong Kong-listed company Newfire Technology (01611.HK) announced that it would issue a total of 166 million subscription shares to five subscribers, equivalent to 22.08% of the company's enlarged share capital, with a subscription price of HK$1.66 per share, a 29.66% discount to the closing price of HK$2.36 on June 27, and a total amount of HK$275.6 million. Major shareholder Avenir Investment (Subscriber I) increased its shareholding in the company from 29.08% to 29.84%; LINEX Holdings Ltd. (Subscriber II) will subscribe for HK$124 million, becoming the largest subscriber in this round, with a shareholding ratio of 10%. TX Capital Holdings Ltd. (Subscriber III) will hold 1%; Night Wood (Subscriber IV), which is wholly owned by Executive Director Zhang, will hold 3.43%; Rosen Holdings Ltd. (Subscriber V) will hold 0.48%.